TALI ARBEL / AP Technology Writer
NEW YORK — The LinkedIn professional networking service is getting a new CEO.
Jeff Weiner will become executive chairman after 11 years as chief of the Microsoft-owned business. Ryan Roslansky, senior vice president of product, will become CEO as of June 1.
Weiner said the timing felt right personally and professionally, with a ready successor.
Roslansky said LinkedIn's priority of serving the world's professionals isn't going to change.
LinkedIn is a social network for workers and job seekers. Recruiters use it to find new hires. Users can share their resumes, search for jobs and catch up on career advice and the latest news. The basic version is free, though LinkedIn charges to get additional features.
Weiner said he sees his new role as similar to how LinkedIn founder Reid Hoffman helped him.
"He was there to help ensure that I was going to be successful," Weiner said in a video posted by LinkedIn. "So I'd like to replicate this process."
Weiner said he would still be available to represent the company and help with product or strategy reviews.
The service has about 675 million members, compared with 33 million when Weiner joined LinkedIn as CEO in 2008.
Microsoft bought the company for $26 billion in 2016, making it the Redmond, Washington, company's largest acquisition. LinkedIn made up almost 6% of Microsoft revenue over the past six months.
Roslansky has been at LinkedIn for more than 10 years. He will report to Microsoft CEO Satya Nadella and join Microsoft's senior leadership team.
Peacock shared the trailer for the second season of the celebrity competition show, 'The Traitors.'
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
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Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
